New Eagle: No tax increase in proposed budget
By Eric Seiverling
eseiverling@yourmvi.com
New Eagle council approved a tentative 2021 budget with no tax increase Tuesday night.
The borough’s tax rate will remain at 2.58 mills, but officials warned that because of the COVID-19 pandemic, the borough will see a reduction of incoming funds, such as impact fees that normally come through Marcellus Shale.
An impact fee is typically a one-time payment imposed by a local government on a property developer. The fee is meant to offset the financial impact a new development places on public infrastructure.
According to borough Administrator Kimberly Koontz, the loss of impact fees could result in a shortage of $47,000. Council members hinted that the money could be replaced by a tax anticipation loan.
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